TITLE

Facing Congestion, Congress Mulls Lifting Restrictions on Federal Tolls

AUTHOR(S)
Sanchez, Humberto
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The U.S. Congress is exploring the possibility of lifting the restrictions on imposing tolls on interstate highways and using congestion-pricing plans as a means of funding expansion of the nation's highway system. In April 2003, Republican Mark R. Kennedy introduced a bill that would remove the toll restriction for interstate highways and allow states to build toll lanes and pay for them with the tolls collected. States would likely finance the construction of the lanes with tax-exempt bonds, which would be backed by the toll revenue. The legislation, which has six co-sponsors, also stipulates that all toll revenues collected be used to pay for debt service and other costs related to the construction of the lanes, that the toll be removed once the project is paid off, and that each project cost at least 50 million dollars.
ACCESSION #
9795604

 

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